Corporate Presentation | September, 2008

THE GROWTH HISTORY

GOES ON...

Disclaimer

This presentation relating to MMX Mineração e Metálicos S.A. (“MMX”) includes “forward-looking statements”, as that term is defined in the Private

Securities Litigation Reform Act of 1995, in Section 27A of the Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934.

All statements other than statements of historical facts are statements that could be deemed forward-looking statements and are often characterized

by the use of words such as “projects”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, “may”, “will”, or “intends”, or by discussions

or comments about our objectives, strategy, plans or intentions and results of operations. Forward-looking statements include projections regarding

our operating capacity, operating expenditures, capital expenditures and start-up dates.

By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. The

risk exists that these statements may not be fulfilled or, even if they are fulfilled, the results or developments described in such statements may not

be indicative of results or developments in future periods. We caution participants of this presentation not to place undue reliance on these forward-

looking statements as a number of factors could cause future results to differ materially from these statements.

Forward-looking statements may be influenced in particular by factors such as the ability to obtain all required regulatory approvals on a timely basis

or at all, exploration for mineral resources and reserves, difficulty in converting geological resources into mineral reserves, and changes in economic,

political and regulatory conditions. We caution that the foregoing list is not exhaustive. When relying on forward-looking statements to make

decisions, investors should carefully consider these factors as well as other uncertainties and events.

MMX does not undertake to update our forward-looking statements unless required by law. This presentation is neither an offer to sell (which can

only be made pursuant to definitive offering documents) nor a solicitation of an offer to buy any securities in the United States, or any other

jurisdiction. The securities referred to herein have not been registered in any jurisdiction, and in particular, will not be registered under the U.S.

Securities Act of 1933, as amended, or any applicable state securities laws and may not be offered or sold in the United States absent registration or

an applicable exemption from such registration requirements.

This presentation and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part without

MMX’s prior written consent.

Investor Relations

Nelson Guitti – Officer

Marilia Botelho – Manager

Gina Pinto - Analyst

Tel. 55 21 2555-5634 / 5558/ 5563

ri@mmx.com.br

Corporate Structure

MMX Sudeste

100%

Minera MMX

de Chile

30% Centennial

Asset Corumbá

Corumbá System

100%70%

MMX Corumbá

Mineração

MMX Metálicos

Corumbá

Greenfield projects developed by MMX: Corumbá System started-up in 2005 (Mining) and 2007 (Metallics); Bom Sucesso start-up scheduled for 2012.

Assets acquired by MMX (AVG: dec-07; Minerminas: jan-08)

100%

100%

Sudeste SystemBom Sucesso

AVG MinerminasBom Sucesso

100%

MMX Sudeste

100%

Free Float

32.7%

Controlling Shareholders

67.3%

Assets

Iron Ore: 6.3 Mtpy

Pig Iron: 0.4 Mtpy

Billets: 0.4 Mtpy

Forestry Program:

34,000 hectares of

eucalyptus forest.

Self-sufficiency in

charcoal by 2017.

MMX Corumbá System

MMX Sudeste

Pelletizing Plant 50%-Option

(at Açu Port)

Royalties on MMX Minas-Rio

production

Royalties on MMX Amapá

production

Iron Ore: 33.7 Mtpy

MMX Sudeste

Minera MMX de Chile

New Business Development

MMX S.A. is the exclusive vehicle of EBX Group for investments in mining and metals, focusing on

the production capacity increase through organic growth and the development of new opportunities.

Management

Joaquim Martino

Executive Officer

Eike Batista

CEO & Chairman of

Board of Directors

1

Vitor Feitosa

COO

2

Chequer Bou-

Habib

Commercial Director

3Nelson Guitti

CFO and Investor

Relations

4

Vitor Feitosa Former Geology Coordinator, former Chief of Mine Planning and former General Manager of Sustainable Development of

SAMARCO – 24 years of experience

Joaquim Martino Former Director of Pelletizing and Metallics, former Director of Carajás Mine and Ponta da Madeira Port (VALE), former

Superintendent of Casa de Pedra Mine (CSN) and former Mining Director of MMX – 27 years of experience

Chequer Bou-Habib Former Marketing and Administration Director of VALE office in Brussels, former President of SAMITRI, former President of

FERTECO, former CEO of GIIC (VALE subsidiary), former General Director of AVG Mineração (MMX) – 24 years of experience

Nelson Guitti Former Financial Director of BR DISTRIBUIDORA and former Executive Director of Strategy and Planning of GASPETRO –

20 years of experience

1

2

3

4

High Performance in Strategic Management

Pro-activity (voluntary

public hearings)

Environmental Licensing

Implementation in

record time (14 months)

MMX Amapá

Partnership with

strategic players

Anglo & Cleveland Cliffs

Eliezer Batista Natural Reserve

Commitment with the

Environment

Financial Market

trust

OTPP

Traditional Steel

Companies

Long Term Off-

Take Agreement

Focus on

infrastructure

projects

LLX Logística S/A

70% Capex contracted

MMX Minas-Rio

2 years July

2006

July

2008

Mine implemented in 8

months; Pig iron plant

implemented in 12

months

MMX Corumbá

Implementation of Amapá

System14 Months

December, 2004“Explorers”

December, 2007Start-up

September, 2006Environmental Licensing and

beginning of construction

December, 20071st shipment

Effectiveness in projects implementation

2

6

23

17

31

23

4

110.20.2

65

13

9

16

111310

3

16

21

29 29 30

4

1414

1107

812

5491222

20 2144

27

4165 775919

84 95 129 136

104

450

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

Jul/06

Aug/0

6

Sep/0

6

Oct/

06

Nov/0

6

Dec/0

6

Jan/0

7

Feb/0

7

Mar/

07

Apr/

07

May/0

7

Jun/0

7

Jul/07

Aug/0

7

Sep/0

7

Oct/

07

Nov/0

7

Dec/0

7

Jan/0

8

Feb/0

8

Mar/

08

Apr/

08

May/0

8

Jun/0

8

Jul/08

Aug/0

8

0

200

400

600

800

1000

1200

1400

1600

Volume Traded * Number of Trades

(24/07/06 = 100)

498.6

211.27

0

100

200

300

400

500

600

700

8007/2

4/06

9/24/0

6

11/24

/06

1/24/0

7

3/24/0

7

5/24/0

7

7/24/0

7

9/24/0

7

11/24

/07

1/24/0

8

3/24/0

8

5/24/0

8

7/24/0

8

(US$MM)

MMXM3 X IBOVESPA (US$)

MMXM3 IBOVESPA

US$ 9.86

*daily average

Results reflected on the outstanding performance of MMX shares

MMX´s Performance Pillars

Iron Ore Market growth

Management delivering as promised

Added value

Health & Safety

Relationship with

communities

EnergyWaste

Water

resources

100

80

60

40

20

0

• Recordable Incidents Frequency Rate

• Occupational Diseases Frequency Rate

• Compliance with hygiene standards

• ETHOS Social Responsibility

Indicators

• Energy efficiency

• Use of renewables

• Charcoal from planted forests

• Domestic waste

generation

• Reuse of industrial waste

• Compliance with environmental standards

• Water consumption

• Water recirculation

• Compliance with water grants

Sustainable Operation: a MMX Value

Guided visits in the Forest site for local students;

Tree planting program in communities adjacent to the

Forestry Program site;

Permanent local fauna and flora studies;

Forest handling and fire prevention textbooks;

Trainee programs;

Implementation of communitarian plant nursery and

environmental education;

Local charcoal production and forest diagnosis;

Seed nursery of native plants for restoring

altered areas.

Ceramic workshop

Environment

Week

Stewardship Management

Plan - Pantanal

Environment: social and environmental awareness and accountability

Strong and close integration with local communities and partnership with technical entities

in social and environmental questions

Eng. Eliezer Batista Private Natural Heritage Reserve – 20 thousand protected hectares

MMX, committed with sustained

development principles, has acquired

and maintains the Eng. Eliezer

Batista Private Natural Heritage

Reserve, in the heart of Pantanal

(largest wetland in the world), an

impressive and relevant area in terms

of bio-diversity and natural richness.

This Heritage Reserve will be the first research and studies center of wetlands in the planet, where there are

hundreds of mammals, including jaguars, 300 species of fishes and more than 700 species of birds, some of them

considered endangered species. The Reserve has its Stewardship Management Plan ready since the beginning,

reflecting MMX´s commitment with preservation.

Environment: commitment with Nature

Ceramic Filter

Roller Press

Vertical Mill

Research Lab

Technological innovation: a value creation tool

Projects based on qualified and

robust technical research, using

recognized ultimate technologies

contributing to CAPEX and OPEX

reduction.

The Growth History Goes on…

The Growth History Goes on: 40 Mtpy

Total CAPEX

US$ 1,509 million

Metallics Production– thousand tons/years

Mining Production – Mpty

231

400 400 400 400 400 400 400

- -34

357

452 452 452 452

2008 2009 2010 2011 2012 2013 2014 2015

Pig Iron

Billets

4.38.7 8.7

18.5

32.1 33.7 33.7 33.7

1.9

2.1 3.2

3.2

6.36.3 6.3 6.3

6.2

10.8 11.9

21.6

38.440.0 40.0 40.0

2008 2009 2010 2011 2012 2013 2014 2015

MMX Corumbá

MMX Sudeste

Business Development

Exploration

599 areas (mineral grants)

approximately 16,000 km2

8 States in Brazil and Chile.

iron ore, manganese, copper, bauxite, and others

Acquisitions

MMX is continuosly evaluating business opportunities, searching for increase in production scale and value

creation, in Brazil and abroad (Minera MMX de Chile).

Mining

Corumbá System

MMX Corumbá Mineração: Production Ramp-Up & Capex

CAPEX US$ 62 million

(coarse fines)

1.91.4

2.1 2.1

3.8 3.8 3.8 3.8

0.2

0.3 0.3

1.0 1.0 1.0 1.0

0.5

0.8 0.8

1.5 1.5 1.5 1.5

1.92.1

3.2 3.2

6.3 6.3 6.3 6.3

2008 2009 2010 2011 2012 2013 2014 2015

Sinter Feed

Hematitinha

Lump

12.2

18.519.8

11.5

2008 2009 2010 2011

Production - Mtpy

Lump Hematitinha Sinter Feed

Fe 64.4 64.6 64.7

SiO2 4.6 4.4 3.7

Al2O3 1.5 1.3 1.4

P 0.058 0.065 0.070

PPC 1.1 1.3 1.7

Expected Quality (%)

Corumbá

MMX Corumbá: Logistics

Transport in barges down the Paraguay River delivering

products to South American costumers and shipments to

Europe and USA at Rosario Port:

Long Term Agreements with international barge

operators.

Current route

Future alternative route

Use of railway until Port Brasil (LLX) in Sao Paulo State:

project under development by LLX – start-up 2012.

Metallics

Corumbá System

Pig Iron & Billet Market

Pig Iron and Billet prices have reached their peak in 2008 and the current market scenario - high demand for

steel products, high raw materials and energy prices and low steel scrap offer – appoints for continuous

potential upsides in the pig iron and billet prices.

Pig Iron and Billets Prices

0

100

200

300

400

500

600

700

800

900

1000

1100

1200

1300

Nov-0

3

Jan-0

4

Mar-

04

May-0

4

Jul-04

Sep-0

4

Nov-0

4

Jan-0

5

Mar-

05

May-0

5

Jul-05

Sep-0

5

Nov-0

5

Jan-0

6

Mar-

06

May-0

6

Jul-06

Sep-0

6

Nov-0

6

Jan-0

7

Mar-

07

May-0

7

Jul-07

Sep-0

7

Nov-0

7

Jan-0

8

Mar-

08

May-0

8

Jul-08

US

$/t

on

ne

Pig Iron FOB Vitória / Rio Billets FOB South AmericaSource: Metal Bulletin - Monthly Averages

MMX Metálicos Corumbá: Production Ramp-Up & Capex

Total CAPEX (2008-2015)

US$ 333 million

Pig iron production feeds Billet production.

29

120

101

2117 15 15 15

2008 2009 2010 2011 2012 2013 2014 2015

231

400 400 400 400 400 400 400

- -34

357

452 452 452 452

2008 2009 2010 2011 2012 2013 2014 2015

Pig Iron

Billets

Production Ramp-Up (thousand ton/year)

MMX Corumbá: TimelineN

E &

Rab

ich

oM

ina 6

3

Operation

2008 2009 2010 2011 2012

Bil

lets

Beginning of construction

Start Up 2nd phase

Operation License

Construction

Construction License

Development

Basic Engineering

Development

Basic Engineering

Preliminary License

Beginning of construction

Construction

Construction License

2013

Operation

Start UpOperationOperation license

Development

Basic and detailed engineering

Construction

Beginning of construction

Operation

Operation license

Start Up

MMX Corumbá: Forestry Program – responsible stewardship and

biomass self-sufficiency

After starting up a forest program in 2006, MMX will ramp up charcoal production to reach

self-sufficiency by 2017.

Program:

Target: 34,000 hectares of eucalyptus planting;

Use of innovative technologies – ferti-irrigations;

Partnership with universities and experts;

Partnership with locals for planting - technology and seeds provided by MMX;

Totally mechanized planting process;

Emissions and effluents control;

Environmental education for local communities.

MMX Corumbá: Biomass self-sufficiency under way

100%

57%57%57%

26%

5%5%5%5%0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

After starting up a forest program in 2006, MMX will ramp up charcoal production to reach

self-sufficiency by 2017.

Serra Azul & Bom Sucesso

Sudeste System

MMX Sudeste: Production Ramp-Up & Capex

CAPEX US$ 1,1 billion

Production - Mtpy

0.9 1.1 1.1 1.4 1.2 1.2 1.2 1.23.2

6.5 6.5

12.39.5 9.5 9.5 9.5

0.1

1.1 1.1

4.8

21.4 23.0 23.0 23.0

4.3

8.7 8.7

18.5

32.133.7 33.7 33.7

2008 2009 2010 2011 2012 2013 2014 2015

Pellet Feed

Sinter Feed

Lump

34.9

290.7

535.7

241.3

10.9

2008 2009 2010 2011 2012

Bom Sucesso

Sinter Feed Pellet Feed Pellet Feed

Fe 66.2 66.4 67.2

SiO2 3.1 2.9 2.5

Al2O3 0.9 0.5 0.5

P 0.045 0.046 0.0339

PPC 1.0 1.1 0.6

FeO* 8.8* aprox 30% magnetite

Expected Quality (%)

Serra Azul

MMX Sudeste: Logistics

Serra

Azul

Serra Azul Business Site:

Conveyor belt linking mine site to railroad

terminal (8km)

Bom Sucesso Business Site:

pipeline linking mine site to MRS (40km)

Railroad:

Long Term Agreement with MRS to grant

transport availability

Port:

LLX Port Sudest: as of July, 2011

Bom Sucesso

Serra Azul

MMX Sudeste: TimelineB

om

Su

ce

ss

oS

err

a A

zu

l

Operation

2008 2009 2010 2011 2012

Start Up (Soft Itabirite Plant)

Operation License (Hard Itabirite Plant)

Construction

Construction license

Development

Basic engineering

Preliminary license

Development

Detailed engineering

Construction license

Beginning of construction

Construction

2013

Operation

Operation license

Procurement

Development

Detailed engineering

Beginning of construction (Soft Itabirite Plant)

Beginning of construction (Hard Itabirite Plant)

Construction Operation

Start Up (Hard Itabirite Plant)

Conceptual and basic engineering

Development

Operation License (Soft Itabirite Plant)

Preliminary license

Start Up

Operation

Total US$ 1.926 bi

2008-2015

Cash Uses & Sources – US$ MM

62

169125

62

77

429

657

274138

598

782

336

28 15 15 15

2008 2009 2010 2011 2012 2013 2014 2015

CAPEX US$ 1.509 bi

Acquisitions US$ 417 MMUses

Sources

295

464

183

8 - - -

138

302

318

152

138

598

782

336

28 15 15 15

2008 2009 2010 2011 2012 2013 2014 2015

Cash from Operations US$ 975 MM

Debt US$ 951 MM

www.mmx.com.br

ri@mmx.com.br

55 21 2555 5557 / 2555 5634 (RI)

Thank you!